(The 3rd CIIE) Observation of CIIE: Has China's position in the minds of multinational companies changed?

　　China News Agency, Shanghai, November 8 (Reporter Li Xiaoyu) When the epidemic prevention and control becomes normal, has China's position in the eyes of multinational companies changed?

From the perspective of the third CIIE, the answer seems to be: it has changed, and it has not changed.

　　The Chinese market’s strong appeal to global investors has not changed, and it is still a “competitive place” for companies.

Especially as the rebound of the epidemic in many countries is getting more and more intense, and the short-term recovery of the world economy is hopeless, China, which is the first to resume economic growth, has become a "shock absorber" for many companies to hedge against the impact of the epidemic.

　　Sun Jue, managing director of Swarovski Crystal Business Greater China, told a reporter from China News Agency that the Chinese market is Swarovski's largest and most important market in the world, and has become the company's largest engine for global business growth.

Under the epidemic this year, Swarovski's business in China has been affected to a certain extent, but the recovery speed is still among the top global markets.

　　“China’s economy is huge, with a population of 1.4 billion and more than 400 million middle-income groups. This is unmatched by other countries,” said Sun Jue. Although the jewelry industry has been greatly affected by the epidemic, Swarovski’s impact on the Chinese market Resilience, vitality and prospects are full of confidence.

　　Zhu Yonghuan, vice president and general manager of Johnson Controls in China, also said that the Chinese market has provided powerful help for the company to overcome the impact of the epidemic.

In view of this, Johnson Controls is confident in the prospects of the Chinese market and will further increase its investment in China.

　　However, in the eyes of some multinational companies, China's "magnetism" is no longer limited to the huge market size.

　　"Many companies regard China as the largest market for development, but Johnson & Johnson feels that this is not enough. China should become the global innovation engine." said Song Weiqun, senior vice president of Johnson & Johnson and chairman of the China region. Johnson & Johnson’s global executive committee was already in October last year. Beijing announced China's "innovation + development" dual-engine strategy, and plans to extensively cooperate with the Chinese government, industry enterprises, medical institutions, and scientific research institutions.

　　At present, Johnson & Johnson has established an open innovation ecosystem in China. China is the first market outside of the United States where Johnson & Johnson has “end-to-end” R&D capabilities in every business segment.

Song Weiqun said that the company will continue to strengthen local innovative research and development and accelerate the introduction of the world's top innovative products into China.

　　In addition to research and development, many companies have also begun to regard China as an important high-end manufacturing base.

When companies in other countries are unable to start operations due to the epidemic, China can still produce goods with high quality and quantity by virtue of a complete industrial chain and supply chain, becoming a "safe haven" in the minds of multinational companies.

　　Xiang Weiming, President and CEO of General Electric (GE) China, cited as an example that many countries around the world could not produce ventilators and monitors during the epidemic, and many of these orders were transferred to China.

At that time, GE's Chinese factory was fully committed to producing medical rescue products and equipment for global supply.

With its outstanding advantages in the industrial supply chain, China has become an important part of GE's global supply chain, and its status will be further improved in the future.

　　Now, GE's world's highest-end critically invasive ventilator production line has landed in its Wuxi factory, and GE's world's largest hydropower equipment manufacturing base is also built in China.

Xiang Weiming revealed that in view of the important strategic position of China's supply chain in GE globally, the company will continue to upgrade its local manufacturing capabilities.

　　Sinisa Krajnovic, Executive Vice President of Ericsson Northeast Asia, also said that China's importance to Ericsson is not only reflected in the large market, but also in that China is Ericsson's most important production base and R&D center.

"China can help us produce world-class products, and it can also carry out world-class research and development."

　　Behind the change and the unchanging is the increase in China's economic strength and influence.

　　Wei Jianguo, former vice minister of the Ministry of Commerce of China, said in an interview with a reporter from China News Agency that the epidemic is a stress test and a good opportunity to highlight China's comprehensive competitive advantages.

Taking into account the consolidation of the advantages of the industrial chain and supply chain, as well as the steady recovery of the economy and the continued pick-up of consumption, China's attractiveness to global investors will be further enhanced.

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